Analog Devices (NASDAQ:ADI) Sets New 1-Year High – Still a Buy?

Analog Devices, Inc. (NASDAQ:ADI)’s stock price reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $290.00 and last traded at $289.4820, with a volume of 491740 shares. The stock had previously closed at $277.29.

Analysts Set New Price Targets

Several research firms have recently weighed in on ADI. The Goldman Sachs Group reiterated a “buy” rating and issued a $300.00 price target on shares of Analog Devices in a research report on Tuesday, November 25th. BNP Paribas began coverage on Analog Devices in a report on Tuesday, November 4th. They issued an “outperform” rating and a $300.00 target price on the stock. Wall Street Zen downgraded shares of Analog Devices from a “buy” rating to a “hold” rating in a research report on Saturday, December 27th. Stifel Nicolaus set a $280.00 target price on shares of Analog Devices in a report on Friday, November 21st. Finally, Cfra restated a “buy” rating and issued a $280.00 price objective on shares of Analog Devices in a research report on Tuesday, November 25th. Three research analysts have rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and seven have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $287.22.

Analog Devices Trading Up 5.1%

The company has a debt-to-equity ratio of 0.24, a current ratio of 2.19 and a quick ratio of 1.68. The business’s 50-day simple moving average is $257.76 and its two-hundred day simple moving average is $246.23. The stock has a market capitalization of $142.66 billion, a price-to-earnings ratio of 63.83, a PEG ratio of 1.51 and a beta of 1.03.

Analog Devices (NASDAQ:ADI) last posted its earnings results on Tuesday, November 25th. The semiconductor company reported $2.26 earnings per share for the quarter, beating the consensus estimate of $2.22 by $0.04. Analog Devices had a net margin of 20.58% and a return on equity of 11.23%. The business had revenue of $3.08 billion for the quarter, compared to analyst estimates of $3.02 billion. During the same quarter in the previous year, the business posted $1.67 EPS. The business’s quarterly revenue was up 25.9% on a year-over-year basis. On average, research analysts anticipate that Analog Devices, Inc. will post 7.14 earnings per share for the current fiscal year.

Analog Devices Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, December 22nd. Investors of record on Monday, December 8th were paid a $0.99 dividend. This represents a $3.96 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date was Monday, December 8th. Analog Devices’s dividend payout ratio (DPR) is 86.84%.

Insider Buying and Selling at Analog Devices

In other news, SVP Martin Cotter sold 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, December 17th. The stock was sold at an average price of $271.19, for a total transaction of $1,355,950.00. Following the completion of the transaction, the senior vice president directly owned 59,664 shares of the company’s stock, valued at approximately $16,180,280.16. This represents a 7.73% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Ray Stata sold 3,125 shares of the stock in a transaction that occurred on Tuesday, December 16th. The stock was sold at an average price of $279.39, for a total value of $873,093.75. Following the sale, the director owned 136,321 shares in the company, valued at $38,086,724.19. The trade was a 2.24% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 39,419 shares of company stock worth $10,319,877. Company insiders own 0.33% of the company’s stock.

Institutional Trading of Analog Devices

A number of institutional investors have recently made changes to their positions in ADI. Quent Capital LLC raised its position in Analog Devices by 2.4% in the third quarter. Quent Capital LLC now owns 1,810 shares of the semiconductor company’s stock worth $445,000 after acquiring an additional 42 shares in the last quarter. Baader Bank Aktiengesellschaft lifted its stake in Analog Devices by 3.9% during the second quarter. Baader Bank Aktiengesellschaft now owns 1,156 shares of the semiconductor company’s stock valued at $270,000 after purchasing an additional 43 shares during the last quarter. Carson Advisory Inc. boosted its holdings in Analog Devices by 3.1% during the third quarter. Carson Advisory Inc. now owns 1,441 shares of the semiconductor company’s stock worth $354,000 after buying an additional 43 shares in the last quarter. Sivia Capital Partners LLC grew its position in Analog Devices by 2.5% in the third quarter. Sivia Capital Partners LLC now owns 1,796 shares of the semiconductor company’s stock worth $441,000 after buying an additional 44 shares during the last quarter. Finally, Klingman & Associates LLC increased its holdings in shares of Analog Devices by 3.7% in the third quarter. Klingman & Associates LLC now owns 1,274 shares of the semiconductor company’s stock valued at $313,000 after buying an additional 45 shares in the last quarter. 86.81% of the stock is owned by institutional investors and hedge funds.

About Analog Devices

Analog Devices, Inc (NASDAQ: ADI) is a multinational semiconductor company that designs, manufactures and markets a broad portfolio of analog, mixed-signal and digital signal processing integrated circuits. Founded in 1965 by Ray Stata and Matthew Lorber, the company has grown into a leading supplier of components that convert, condition and process real-world signals for electronic systems. Analog Devices is headquartered in Massachusetts and serves customers around the world across multiple end markets.

The company’s product lineup includes data converters (ADCs and DACs), amplifiers, power management ICs, radio-frequency (RF) and microwave components, sensors and MEMS devices, signal chain and isolation products, timing and clocking solutions, and embedded processors and software for system-level design.